Do you want to study for a Master's in Business Administration? Are you thinking about the top-ranked MBA universities in the world?
Pursuing an MBA with a specialisation boosts your earning potential by 30%. This can be a successful launchpad for your career.
What is an MBA degree?
A Master of Business Administration (MBA) is a professional degree for managing businesses and data analysis. From covering aspects of business management to delving into the concepts of analytics, these courses offer a blend of conceptual learning and hands-on experience.
Here are some benefits of pursuing an MBA degree:
- MBA opens opportunities in organisations across various sectors, including finance, engineering, e-commerce, healthcare, and more.
- Graduates with an MBA degree can pursue careers as business consultants, business managers, product managers, business analysts, data analysts, and data managers, among other job profiles.
- Careers in business and management provide a competitive salary. The average annual salary for MBA graduates ranges from $90,000 to $150,000.
Highlighted quote: “Elevate your future with an MBA degree. Discover the perfect institution to boost your business acumen.
Usually, MBA degrees offer various specialisations in specific fields of study, offering elective subjects and coursework.
There are a wide range of MBA programs worldwide with specialisations which will help you gain valuable skills and expand your professional network, preparing you for leadership roles.
In this article, we’ll explore:
- The need for a specialised MBA degree
- List of specialisations
- Admission requirements to study MBA
- Top countries to study MBA along with top universities
Let's get started.
Table of Contents
- What is an MBA degree?
- Key highlights of an MBA degree
- Why do you need a specialised MBA degree?
- List of specialisations
- Admission requirements to study MBA
- Documents required to study MBA
- Top countries to study MBA and top universities
- Which are the highest-paid MBA specialisations?
- Top 5 MBA specialisations
- Get ready to study abroad
- Which MBA specialisation is best in the world: Your questions answered!
- Which MBA course has the highest salary?
- Which is the best country to study for an MBA?
- What are the top jobs after an MBA?
- What are some top companies to work for after an MBA degree?
- Which MBA specialisation is best paid in the world?
- Which MBA specialisation is in demand?
- What is the duration of an MBA degree?
- What is the cost of doing an MBA degree abroad?
- Can I study for an MBA without a GRE/GMAT?
Key highlights of an MBA degree
| Course mode | Full-time (on-campus) Part-time Online |
|---|---|
| Course duration | 2 years |
| Fees range | $30,000 - $45,000 |
Data updated as of February 2024
Why do you need a specialised MBA degree?
Before looking at the list of specialisations in MBA, let’s first understand the importance of a specialised MBA degree.
- Studying a specialised MBA degree abroad provides in-depth knowledge and skills to students in a specific field. This helps them to get better job opportunities in their chosen field of study.
- Many universities abroad have close ties with industry leaders and offer internships and networking events. It enables students to gain practical experience, connect with industry professionals, and increase their chances of securing internships and full-time job roles.
- For individuals looking to transition into a new industry or role, a specialised MBA degree can provide the required skills and knowledge.
Want to study MBA abroad? Explore your options with Edvoy!
List of specialisations
- MBA in Finance
- MBA in Business Analytics
- MBA in Marketing
- MBA in Human Resources
- MBA in International Business
- MBA in Entrepreneurship
- MBA in Operations Management
- MBA in Logistics and Supply Chain Management
- MBA in Banking And Insurance Management
- MBA in Healthcare Management
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Admission requirements to study MBA
| Factor | Eligibility criteria |
|---|---|
| Educational qualifications | Students with an undergraduate degree in business, engineering, accounting, or related fields can pursue an MBA degree. |
| Minimum English proficiency and entrance exam requirements | GMAT or GRE scores (The GMAT and GRE scores vary for each university. Check the university website for specific scores.) |
Data updated as of February 2024
Note: The eligibility requirement varies with every program and university. Ensure you check the course page for the requirements before applying.
Documents required to study MBA
In addition to the eligibility criteria, universities need other documents to proceed with your application. Make sure you have the below-mentioned documents.
- Academic transcripts
- Letter of Recommendation (LOR)
- Statement of Purpose (SOP)
- Resume or Curriculum Vitae (CV)
- Passport
- Admissions test results
- English language proficiency test scores
- Proof of funds
- Visa
Top countries to study MBA and top universities
Top universities to study MBA
Here are some of the top universities to study MBA according to the QS Global MBA Rankings 2024.
| University | QS Global MBA Rankings 2024 | Country |
|---|---|---|
| Stanford Graduate School of Business | 1 | USA |
| University of Pennsylvania | 2 | USA |
| Harvard Business School | 3 | USA |
| London Business School | 4 | UK |
| HEC Paris | 5 | France |
| MIT (Sloan) | 6 | USA |
| Columbia Business School | 7 | USA |
| IE Business School | 8 | Spain |
| Cambridge (Judge) | 9 | UK |
| IESE Business School | 9 | Spain |
| INSEAD | 11 | France |
| Northwestern (Kellogg) | 12 | USA |
| UC Berkeley (Haas) | 13 | USA |
| University of Chicago Booth School of Business | 14 | USA |
| UCLA (Anderson) | 15 | USA |
Data updated as of February 2024
Also Read: Study MBA in Finance in the UK
Which are the highest-paid MBA specialisations?
Some of the highest-paying MBA specialisations are:
- Finance
- Business Analytics
- Marketing
- Human Resources
- International Business
- Entrepreneurship
- Operations Management
- Logistics and Supply Chain Management
- Banking And Insurance Management
- Healthcare Management
Top 5 MBA specialisations
The top 5 MBA specialisations in the world are:
- MBA in Finance
- MBA in Business Analytics
- MBA in Marketing
- MBA in Human Resources
- MBA in International Business
These are among the highest-paying ones because of their scope and demand.
1. MBA in Finance
Best universities for an MBA in Finance
- Coventry University
- Bangor University
- University of Greenwich
- Nottingham Trent University
- University of Hertfordshire
Job opportunities for MBA - Finance graduates
| Designation | Average Annual Salary (in USD) |
|---|---|
| Management Consultant | $55,000 - $70,000 |
| Finance Manager | $90,000 - $110,000 |
| Senior Business Consultant | $80,000 - $90,000 |
(The above salary ranges are approximate and are taken from various sources.
Sources: Talent, Glassdoor, and LinkedIn)
2. MBA in Business Analytics
Best universities for an MBA in Business Analytics
- University of East London
- New York Institute of Technology
- Wichita State University
- Arizona State University
- Montclair State University
Job opportunities for MBA - Business Analytics graduates
| Designation | Average Annual Salary (in USD) |
|---|---|
| Business Intelligence Manager | $60,000 - $85,000 |
| Business Analyst | $80,000 - $100,000 |
| Data Analyst | $85,000 - $105,000 |
(The above salary ranges are approximate and are taken from various sources.
Sources: Talent, Glassdoor, and LinkedIn)
3. MBA in Marketing
Best universities for an MBA in Marketing
- Coventry University
- Bangor University
- University of Greenwich
- University of Sunderland
- California Lutheran University
Job opportunities for MBA - Marketing graduates
| Designation | Average Annual Salary (in USD) |
|---|---|
| Marketing Manager | $75,000 - $110,000 |
| Client Success Specialist | $60,000 - $75,000 |
| Growth Marketer | $70,000 - $85,000 |
(The above salary ranges are approximate and are taken from various sources.
Sources: Talent, Glassdoor, and LinkedIn)
4. MBA in Human Resources
Best universities for an MBA in Human Resources
- University of Sunderland
- Wichita State University
- Montclair State University
- Edinburgh Napier University
- University of North Texas
Job opportunities for MBA - Human Resources graduates
| Designation | Average Annual Salary (in USD) |
|---|---|
| Human Resources Manager | $75,000 - $95,000 |
| HR Business Partner | $80,000 - $90,000 |
| Talent Acquisition Executive | $60,000 - $70,000 |
(The above salary ranges are approximate and are taken from various sources.
Sources: Talent, Glassdoor, and LinkedIn)
5. MBA in International Business
Best universities for an MBA in International Business
- Bangor University
- University of Greenwich
- Australian Technical and Management College
- University of Birmingham
- California Lutheran University
Job opportunities for MBA - International Business graduates
| Designation | Average Annual Salary (in USD) |
|---|---|
| Management Consultant | $55,000 - $70,000 |
| Business Consultant | $90,000 - $110,000 |
| Technology Consultant | $80,000 - $95,000 |
(The above salary ranges are approximate and are taken from various sources.
Sources: Talent, Glassdoor, and LinkedIn)
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Get ready to study abroad
At Edvoy, we pride ourselves on simplifying the study-abroad process for students. With comprehensive guidance, we'll assist with
- Finding the ideal MBA programs
- Selecting universities with connections to global industries
- Navigating the application process for studying abroad
- Overcoming challenges like visa requirements and language barriers
- Maximising the learning, cultural immersion, and long-term career benefits
Take the first step in your study abroad journey today with Edvoy!
Edvoy helps you turn your aspirations into a global education journey, making your decision process seamless. Discover the perfect institution to boost your business acumen.
Start your study abroad journey with Edvoy. Get in touch with a friendly Edvoy Counsellor and download the app today.
Which MBA specialisation is best in the world: Your questions answered!
At Edvoy, we pride ourselves on simplifying the study-abroad process for students. If choosing an MBA degree is your choice, you have plenty of options!
We've collated answers to commonly asked questions to assist you in your study abroad journey. Find your answers below!
Which MBA course has the highest salary?
Some of the highest-paying MBA specialisations are:
- Finance
- Business Analytics
- Marketing
- Human Resources
- International Business
- Entrepreneurship
- Operations Management
- Logistics and Supply Chain Management
- Banking And Insurance Management
- Healthcare Management
Which is the best country to study for an MBA?
The top countries to study MBA abroad are:
What are the top jobs after an MBA?
Some of the highest-paying jobs after an MBA are Management Consultants, Finance Managers, Business Consultants, Business Analysts, Marketing Managers, Human Resources Managers, and Business Consultants.
What are some top companies to work for after an MBA degree?
The top companies to work for after an MBA degree include Apple, Google, Microsoft, Amazon, BCG, JP Morgan, Deloitte, Morgan Stanley, and Accenture.
Which MBA specialisation is best paid in the world?
The top 5 MBA specialisations that are best paid are:
- MBA in Finance
- MBA in Business Analytics
- MBA in Marketing
- MBA in Human Resources
- MBA in International Business
These are among the highest-paying ones because of their scope and demand.
Which MBA specialisation is in demand?
The top MBA specialisations that are in demand are:
- Finance
- Business Analytics
- Marketing
- Human Resources
- International Business
- Entrepreneurship
- Operations Management
- Logistics and Supply Chain Management
- Banking And Insurance Management
- Healthcare Management
What is the duration of an MBA degree?
The MBA course duration is two years.
What is the cost of doing an MBA degree abroad?
The cost of studying MBA abroad ranges from $50,000 - $80,000, depending on the university, program, and location.
Can I study for an MBA without a GRE/GMAT?
Yes, it is possible to study MBA without a GRE or GMAT. Students with a relevant bachelor’s or master’s degree or work experience can have more chances of admission to an MBA program abroad. Many universities do not require GMAT or GRE scores for admission.
